The ‘Global Pulse Oximeter Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global pulse oximeter market, assessing the market on the basis of its segments like type, technology, age group, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.50%
With the rapid technological advancements and the growing awareness regarding oxygen monitoring, there has been a steady growth in the global pulse oximeter market. The rising prevalence of respiratory diseases is a major driving force of this market along with the increasing incidences of chronic conditions like asthma. Due to the increasing geriatric population, the need for the adoption of self-monitoring devices has prevailed, urging the increased usage of pulse oximeters and fuelling the growth of the market for pulse oximeters.
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The rising number of hospitals coupled with the heavy footfall of patients are contributing to the growing demand for various types of oximeters. Pulse oximeters are widely being adopted in hospitals for checking oxygen saturation levels of anesthetised patients so as to reduce the risk of taking medications that might interfere with breathing activity. Various types of trainings and medical camps are also being organised by hospitals to guide the patients and their family members on the usability of pulse oximeters which is likely to bolster the pulse oximeter market.
Rapid urbanisation and increased expenditure by the population on healthcare devices has augmented the growth of the pulse oximeter market. Additionally, pulse oximeters also enable the easier diagnosis of cardiovascular conditions and prevent the likelihood of a heart attack.
A pulse oximeter is non-invasive test which measures the oxygen level or oxygen saturation in the blood of a patient. It is a convenient and painless method of detecting any abnormalities in oxygen levels. It is usually recommended for people suffering from breathing difficulties and those with a known record of lung or heart conditions.
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On the basis of type, the market is classified into:
• Fingertip Pulse Oximeter
• Handheld Pulse Oximeters
• Tabletop Oximeters
• Others
Based on technology, the market is bifurcated into:
• Conventional
• Connected
On the basis of age group, the market is divided into:
• Adult
• Paediatric
Based on end use, the market is classified into:
• Hospitals and Ambulatory Surgical Centres
• Clinics
• Home Healthcare
• Others
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Increasing rate of hospitalisations and surgical procedures have increased the need for careful and accurate monitoring of oxygen saturation levels to avoid risks and complications. A key trend observed in the pulse oximeter market is the rising adoption of travel-friendly self-monitoring devices, supported by rapid digitalisation. The low-cost and effectiveness of fingertip-pulse oximeters has encouraged its increased usage in homes and hospitals, thus bolstering the market.
The health of the working population is often neglected, owing to their hectic lifestyles which puts them at a higher risk of chronic conditions and late diagnoses. To curb this risk, the demand for fingertip-pulse oximeters is surging which can provide time-saving and easy diagnostics followed by a positive prognosis. The implementation of patient-safety measures and mandatory inclusion of pulse oximeters in the critical-care departments of hospitals has further led to the growth of the pulse oximeter market.
The growing focus on the development of wireless- monitoring devices in ambulatory surgical centres is augmenting the growth of the market for pulse oximeters. A major positive impact on this market is from the growing usage of tabletop pulse oximeters which are user-friendly and are widely being used in the healthcare sector.
The major players in the global pulse oximeter market report are
• Medtronic, plc
• Koninklijke Philips N.V.
• Nonin Medical, Inc.
• Nihon Kohden Corporation
• ICU Medical Inc.
• Masimo Österreich GmbH
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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